The ferrous complex fell on March 30, 2021 as iron ore spot and steel futures eased. Paper markets were up modestly overnight after the front-month contract rolled forward:
The rising US dollar will become a headwind for iron ore soon.
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CBA is making sense:
The surge in commodity prices over the last year has led markets to consider whether we are at the start of another commodity supercycle.
We think the rise in commodity prices over the last year is indicative of a cyclical recovery [not] a long-dated supercycle.
Yep. No change for me. Strong pricing through April then down in May. Same again through mid-year and own in Q3.
Each a step lower for the price deck.